PopReach Closes $17.3 Million Bought Deal Financing

PopReach Corporation (TSXV: POPR) announced this morning that it has completed its previously announced public offering. The company managed to raise gross proceeds of $17.3 million, which includes a full exercise of the over allotment option in the financing that was lead by that of Beacon Securities.

The offering saw a total of 13,800,000 common shares of the issuer sold at a price of $1.25 per share on a bought deal basis. Of those shares, 1,800,000 were the result of the over allotment option being exercised.

The company has indicated that proceeds from the offering are to be used for acquisitions, working capital, as well as general corporate purposes.

PopReach Corporation last traded at $1.35 on the TSX Venture.

Information for this briefing was found via Sedar, PopReach, and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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